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PEF PowerShares

The PowerShares FTSE RAFI Europe UCITS ETF aims to replicate the FTSE RAFI Europe Index. The Index is designed to track the performance of the largest European equities, selected based on the following four fundamental measures of firm size: book value, income, sales and dividends. The 1000 equities with the highest fundamental strength are weighted according to their fundamental scores. The fundamentally weighted portfolio is rebalanced and reconstituted annually.

With effect from 17 February 2014, the ETF will change the relevant benchmark from a Gross Index to a Net Index (i.e. net of income and withholding tax). The index strategy and constituents of each benchmark index will remain the same

Performance analysis (in EUR)  
Growth of 10,000 (in EUR) Performance summary
As at 30/09/2014
Top country allocations  
As at 20/10/2014
United Kingdom 31.34%
France 16.34%
Germany 13.63%
Switzerland 9.17%
Spain 8.15%
Italy 6.09%
Sweden 3.35%
Netherlands 3.13%
Finland 1.61%
Norway 1.47%
Sector allocations  
As at 20/10/2014
Distribution history
Ex-Date Record Date Pay Date Rate/Share Ordinary Income
02/10/2014 06/10/2014 31/10/2014 0.045 0.045
02/07/2014 04/07/2014 31/07/2014 0.115 0.115
02/04/2014 04/04/2014 30/04/2014 0.049 0.049
03/01/2014 07/01/2014 31/01/2014 0.023 0.023
02/10/2013 04/10/2013 31/10/2013 0.038 0.038
03/07/2013 05/07/2013 31/07/2013 0.112 0.112
27/03/2013 02/04/2013 30/04/2013 0.020 0.020
02/01/2013 04/01/2013 31/01/2013 0.024 0.024
03/10/2012 05/10/2012 31/10/2012 0.040 0.040
27/06/2012 29/06/2012 31/07/2012 0.126 0.126
28/03/2012 30/03/2012 30/04/2012 0.026 0.026
28/12/2011 30/12/2011 31/01/2012 0.030 0.030
28/09/2011 30/09/2011 28/10/2011 0.047 0.047
29/06/2011 01/07/2011 29/07/2011 0.128 0.128
30/03/2011 01/04/2011 29/04/2011 0.118 0.118
29/09/2010 01/10/2010 29/10/2010 0.029 0.029
30/06/2010 02/07/2010 30/07/2010 0.115 0.115
01/07/2009 03/07/2009 31/07/2009 0.108 0.108
19/06/2009 23/06/2009 30/06/2009 0.108 0.108
01/04/2009 03/04/2009 30/04/2009 0.015 0.015
31/12/2008 05/01/2009 30/01/2009 0.038 0.038
01/10/2008 03/10/2008 31/10/2008 0.038 0.038
02/07/2008 04/07/2008 31/07/2008 0.046 0.046
02/04/2008 04/04/2008 30/04/2008 0.031 0.031
02/01/2008 04/01/2008 31/01/2008 0.041 0.041


This marketing document is directed at Professional Clients in France only and is not for consumer use.

Where Invesco PowerShares has expressed views and opinions, these may change without notice. The price of ETFs and any income will fluctuate, this may partly be the result of exchange rate fluctuations, and investors may not get back the full amount invested. Past performance is not an indication of future performance, provides no guarantee for the future and is not constant over time. Whilst an ETF will seek to track an Index, Invesco PowerShares does not guarantee that this will occur. When making an investment in an ETF you are buying shares in a company that is listed on a stock exchange. The price of the shares will be determined by supply and demand. It is expected that shares in the ETFs will trade closely to their NAV, and because of the exchange-traded fund structure, it is expected that a significant discount or premium of price to asset value will not be sustainable over the long term. However, supply and demand in the shares on the relevant exchange together with any disruptions to creations and redemptions of units in the underlying fund may result in share prices that differ significantly from the NAVs and there can be no certainty that there will be liquidity in the shares on any exchange. Only Authorised Participants, as defined in the Full Prospectus of the ETF, can request the Manager to create and redeem units in the underlying fund. Any investment in an ETF should be made on the basis of the relevant Full Prospectus, KIIDs and Supplement, including consideration of the investment objective, risks, charges and expenses. Further information on the ETFs, including the Full Prospectus, KIIDs and Supplements is available at, from your adviser or broker. This document is intended for information purposes in regard to the existence and potential benefits of investing in ETFs. However, it is not intended to provide specific investment advice including, without limitation, investment, financial, legal, accounting or tax advice, or to make any recommendations about the suitability of the ETF for the circumstances of any particular investor. You should take appropriate advice as to any securities, taxation or other legislation affecting you prior to investment.

France: This document is issued in France by Invesco Asset Management S.A., 18, rue de Londres, 75009 Paris.

The ETFs are not issued, sold or promoted by the index providers. The index providers make no warranties and bear no liability with respect to the ETFs. For more information about the index providers, please see the information available on the website on the Prospectus Page.

Source: Invesco PowerShares unless otherwise stated.

Daily NAV As at 20/10/2014
NAV EUR 8.17
Fund details As at 20/10/2014
Fund ticker PEF
ISIN code IE00B23D8X81
Reuters code PSPEF. PA
Bloomberg ticker PEF FP
Structure Physical replication
Base currency EUR
Inception date 19/11/2007
Listing date 11/01/2008
Exchange NYSE Euronext, Paris
Number of holdings 472
Index details
Index name FTSE RAFI Europe Index
Bloomberg code TFREUNE
Reuters code .FTFREU
Expense ratios
Total expense ratio (TER) 50 bps
As at 31/12/2010
Market cap &
As at 20/10/2014

style associations (%)
    Large-Cap Value 46.03%
    Large-Cap Growth 42.82%
    Mid-Cap Growth 5.40%
    Mid-Cap Value 5.17%
    Unclassified style data 0.36%
    Small-Cap Growth 0.17%
    Small-Cap Value 0.05%
Top holdings As at 20/10/2014
Company % of the Fund
HSBC Holdings PLC 2.86%
BP PLC 2.84%
Royal Dutch Shell PLC 2.68%
Banco Santander SA 2.54%
Total SA 2.34%
Vodafone Group PLC 1.80%
Royal Dutch Shell PLC 1.78%
Telefonica SA 1.69%
Nestle SA 1.69%
Novartis AG 1.51%
Fund Holdings subject to change
Characteristics As at 30/09/2014
Price/Earnings Ratio  14.53
Price/Book Ratio  1.43
ROE  10.84%
Ave Market Cap  75,638MM
Issued by Invesco Asset Management S.A.
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